Home > TOR FINANCE FAQ

THE ORIGINAL RESINATOR (TOR)

FINANCE PROGRAM

FREQUENTLY ASKED QUESTIONS

(FAQ)

1. What is the maximum loan amount I can apply for and is there a minimum amount?

A. Maximum amount we finance is $20,000.00. However, we do have a third party lender who works closely with us should you need more than that amount. We require at least a minimum of $1,000.00.

2. Do you pull a traditional credit report?

A. We actually have you work directly with Experian who will assist in pulling your credit report for your review, at which time you will then share with us. By doing it this way, your credit information remain secure within the Experian server and not shared over the internet.

3. Is there a charge to pull my credit report?

A. We do not charge you. Experian does have a $14.95 charge you will pay directly to them.

4. Do I need “Perfect” credit to participate in this program?

A. Although your past credit performance is important and will be considered, TOR understands we all have challenges and will work with our customers to assist them even when their credit is less than “perfect”.

5. What type of down payment is needed?

A. All deals normally require a 30% down payment of the sales price.

6. What interest rate should I expect?

A. This is an interest free deal. There is an initial finance fee which is due at time of down payment.

7. How long will I have to pay back the loan?

A. Our initial term will be for six (6) months. The term can be adjusted on a case by case basis and should be discussed with your sales representative.

8. Am I ever required to put down more than 30%

A. No. However, depending on the strength of your credit, co-signers, personal guarantees, additional UCC filings, etc., may be required.

9. Can I make my down payment using my credit card?

A. No, unfortunately down payments must be made as wire transfer, cashiers check, money orders, etc.

10. What personal information will I be required to provide:

A. Upon initial application (completed online) you will be asked various questions regarding your residence, employment, assets, licensing/compliance needs, etc. Based on the information provided, the underwriter may ask for additional information.

11. After you receive my application, how soon can I expect an answer?

A. Typically, we will acknowledge receipt of your application within 24 hours or sooner, make the initial review and provide initial response within 3-4 days of application or sooner.

12. How are payments made?

A. You can use our secure click and pay invoices to pay with a debit card or secure wire transfer. Traditional wire transfers, money orders, and cashiers checks are also accepted.

13. Can I make additional payments on my loan?

A. Yes.

14. If I pay off my loan early will I be charged an early payoff fee?

A. No.

15. If I need to extend my loan term for any reason, do you have additional fees?

A. Yes. There will be an additional finance fee for the extension based on the amount of the initial finance fee and the length of the extension.

16. What collateral will I be required to provide, other than the machine I am purchasing?

A. Normally no other collateral will be required depending on the history of your credit profile. If additional collateral is required we will notify you of that fact.

17. Do I have to provide evidence of required cannabis license and compliance needs?

A. Although we do not ask for actual copy of required license and compliance documents, we do require you certify that you have met all state and local cannabis production/distribution requirements.

18. My business is relatively new and is a “start up” business. Does this present a problem?

A. Yes and No. Yes, we need to be aware of your start up position. No, being a startup is not a problem. Just because you are new does not mean you are unworthy of credit. It simply means we need to take a closer look at your balance sheet and current P&L statements. Our goal is not to challenge your decisions or needs, rather to ensure we are in a good risk position.

19. If I need additional machines financed later, and in doing so I will stay below your maximum amount, do I need to go through the whole approval process again?

A. No. We will simply review your account.

20. What if I move to a new address, am I required to notify The Original Resinator?

A. Yes. If you move your residence, your business address, or if you change business, you must notify us 10 days prior to that move so we can update of records.

21. What type of technical assistance can I expect?

A. You will be entitled to the exact same superb technical assistance and customer service as our cash-n-carry customer.

22. Once approved, how long does it take to ship me my machine?

A. Normally, once the loan is approved and down payment/finance fees received we will ship the machine within 1-2 business days. If there is a delay, you will be notified of any expected delay before finalization of your loan.

Ways to Apply:

Call- 877-RESINATOR (737-4628)
OR
Email
info@theoriginalresinator.com